The Nigeria Revenue Service (NRS) is introducing a major digital shift for medium-sized enterprises with its new E-Invoicing & Electronic Fiscal System (EFS), also called the Merchant Buyer Solution (MBS). This initiative promises to simplify tax reporting, reduce errors, and replace cumbersome paperwork with a streamlined, electronic process for businesses generating between N1 billion and N5 billion annually.
The rollout will follow a structured timeline, starting with stakeholder engagement in January 2026, a pilot program, and a mandatory Go-Live date set for July 1, 2026. By July 2027, even smaller Emerging Taxpayers are expected to join the system, signaling a nationwide push toward digital tax compliance. Stakeholders have praised the initiative, noting it will drastically reduce lost receipts, manual accounting mistakes, and the time spent on administrative tasks.
Through the EFS platform, accessible at einvoice.nrs.gov.ng, taxpayers can register, issue, and track invoices electronically. This real-time system ensures that every transaction is properly recorded, enhancing transparency and reducing the risk of underreported revenue. Businesses will also undergo a Post Go-Live Review in late 2026, with full Compliance Enforcement scheduled for early 2027.
Analysts highlight that adopting the EFS is a critical step in modernizing Nigeria’s economy, particularly for medium and small enterprises. For business owners, this shift means moving away from paper-heavy accounting to a digital, real-time system that simplifies financial management and improves accuracy in reporting to tax authorities.
As Nigeria edges closer to a fully digital tax ecosystem, the NRS emphasizes that early registration and preparation are essential for businesses to stay compliant. The e-invoicing initiative not only strengthens tax administration but also fosters trust and accountability between businesses and the government.
source: The sun